Moscow. April 27 - Geotek JSC's net profit under IFRS for 2023 amounted to 350 million rubles, the company said in a statement.

This result was achieved after three years of losses. The last time Geotek recorded a net profit under IFRS was in 2019 in the amount of 1 billion rubles.

EBITDA for last year amounted to 1.4 billion rubles. The total contract portfolio more than doubled and is estimated at more than 22 billion rubles.

"The company is consistently implementing its development strategy in the main areas. Active work continues both with key customers and in the direction of expanding the contract base in the country and abroad. A separate block is the work on modernizing the equipment fleet, including the development of our own high-tech equipment in the field of geological exploration," the words of Geotek President Roman Panov are quoted in the message.

The company also summed up the results of the winter field season: the holding's specialists completed over 3 thousand square kilometers of 3D seismic exploration, of which about 500 square kilometers were offshore work, as well as over 2.5 thousand linear kilometers of 2D seismic.

Geotek (formerly Geotek Seismorazvedka - IF) was founded in 2009 and carries out work in Western and Eastern Siberia, in the Timan-Pechora and Volga-Ural provinces, as well as in Kazakhstan, Uzbekistan and other countries. At the end of 2022, the company came under the control of a closed-end mutual fund, which is part of the Gazprombank group.

Source: interfax